This is exactly what we did when we met with Enid (68), just three months after her husband had very sadly passed away.
What was her situation?
She was worried about how she would cope financially without her husband as he had always looked after her whilst she took responsibility for bringing up the children and grandchildren.
Because Enid had stayed at home looking after the children, she did not have a large pension to draw upon. As a result, her main priority was to ensure that she could generate enough income from savings to last her for the remainder of her life.
How Fairstone NI helped
Enid provided us with all her investment correspondence. Together we worked with Enid to sift through the paperwork and contacted each provider on her behalf, to receive up to date information on all of her plans and savings.
Having worked together with Enid to understand her financial situation in detail, we were able to research and create a tailored investment plan which would provide her with a guaranteed income every month, whilst protecting her capital.
We discussed with Enid her plans for the remainder of her money in the event of her dying, and put plans in place to ensure that her beneficiaries would receive the money that she wanted to leave to them.
Enid now has peace of mind that she has enough income every month, can continue to live comfortably and go on holidays with her sister. She has plans in place to ensure that when she dies any residual money is given to her chosen beneficiaries.
To ensure that her circumstances have not changed and that she is happy with her investment portfolio, we meet with Enid each year and make any necessary changes to her plans, in line with her changing needs.
Get in touch
To find out more about how our financial advisers can help you to achieve your financial objectives – be it how to create income from savings, or otherwise – don’t hesitate to get in touch for an informal discussion with one of our team.